SEOUL, May 21 (Yonhap) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Friday that it will localize a shaft generator motor, a key part generating electricity to propel ships.

   To that end, DSME has signed a preliminary deal with Hyosung Heavy Industries Corp., a local industrial motor maker, to jointly develop the shaft generator motor using permanent magnet, DSME said.

   The shaft generator motor is considered one of the eco-friendly technologies to reduce the emission of carbon dioxide and sulfur oxides because it helps raise the efficiency of ship engines by 3 percent compared with that of the current engines, DSME said.

   If DSME succeeds in developing the shaft generator motor, it will sharpen its edge against other rivals in competition to bag new orders for ships, the company said.

Officials from Daewoo Shipbuilding & Marine Engineering Co. (DSME) and Hyosung Heavy Industries Corp. pose for photos holding an agreement on May 20, 2021, in this photo provided by DSME on May 21. (PHOTO NOT FOR SALE) (Yonhap)